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View post: Household Survey: Number of Employed Declines by 119,000 as Those Not in Labor Force Rises by Spectacular 581,000;…
Central bankers Debating the Limits of Power in Jackson Hole are wondering what’s holding back the economy.
For a short, yet thorough trashing of Bernanke’s defense of his policies, please see Mish Translation of Bernanke’s Statements on the Treasury Carry Trade and the Tax on Savers . The only way to fix the problem is to end fractional reserve lending and return to sound money. On this point the Austrians are 100% correct.
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Originally posted here: Part II – Robots to Rule the World? Taking All Jobs? Replace Women?
Gary Shilling: US in Recession Now or Within 3 Months, Deleveraging Will Take 5-7 More Years In a Daily Ticker Interview with Henry Blodget, economist Gary Shilling makes the case the US is already in recession. "We’ve had three consecutive months of declines in retail sales," says Shilling, president of A. Shilling & Co., an economic research and forecasting firm
Problem in Europe is Arithmetic, Not Confidence; Why the Eurozone Cannot Possibly Survive Intact Via email, Michael Pettis at China Financial Markets makes a compelling case why Spain is destined to leave the euro. For ease in reading, I added the subtitles in bold
As a result "Les Riches" Have Tax Indigestion and are looking to move outside France. “We’re getting a lot of calls from high earners who are asking whether they should get out of France,†said Mr. Grandil, a partner at Altexis, which specializes in tax matters for corporations and the wealthy
French Central Bank Admits the Obvious: France Back in Recession For those who who view matters on a practical basis, France has been in recession the entire year. For those who need to see two quarters of negative growth first, France slides back in recession . France is headed back into recession for the second time in just over three years, the country’s central bank warned on Wednesday.